Forex SR Channel MT4 Indicator:
About the Forex SR Channel MT4 Indicator
This channel takes input from Support and Resistance levels and the Parabolic Sar.
Features alert function.
Parameter TrendPeriod for the user to change.
How to use:
Simply attach to any chart and combine into your strategy.
When the blue SR line is below the price (Support), buy.
When the blue SR line is above the price (Resistance), sell.
For those using Turning Point Ticks or Trend Tracker Helper , see comment #9.
Best results on Major Pairs, but can also be used on other pairs.
Important to note:
- Please do not use this indicator haphazardly. Make sure it compliments your strategy.
- Don’t risk money you cannot afford to lose.
- You use this indicator at your own risk. Please apply money management wisely.
- Always test your strategy on a demo account before using a new indicator on a live account.
Copy and paste the file into the MQL4 Indicators folder of the Metatrader 4 trading platform.
You can access this folder from the top menu as follows:
File > Open Data Folder > MQL4 > Indicators (paste here)